UNITED STATES SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 5
ANNUAL STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
( ) Check box if no longer subject to Section 16.
Form 4 or Form 5 obligations may continue. See Instructions 1(b).
( ) Form 3 Holdings Reported
( ) Form 4 Transactions Reported
1. Name and Address of Reporting Person
Michael A. Miles
1350 Lake Road
IL, Lake Forest 60045
2. Issuer Name and Ticker or Trading Symbol
Dell Computer Corporation (DELL)
3. IRS or Social Security Number of Reporting Person (Voluntary)
4. Statement for Month/Year
FY '99 ended 1/29/99
5. If Amendment, Date of Original (Month/Year)
6. Relationship of Reporting Person(s) to Issuer (Check all applicable)
(X) Director ( ) 10% Owner ( ) Officer (give title below) ( ) Other
(specify below)
7. Individual or Joint/Group Reporting (Check Applicable Line)
(X) Form filed by One Reporting Person
( ) Form filed by More than One Reporting Person
<TABLE>
<CAPTION>
___________________________________________________________________________________________________________________________________
Table I -- Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned |
___________________________________________________________________________________________________________________________________|
1. Title of Security |2. |3. |4.Securities Acquired (A) |5.Amount of |6.Dir |7.Nature of Indirect |
|Transaction| or Disposed of (D) | Securities |ect | Beneficial Ownership |
|Date |Code| | Beneficially |(D)or | |
| | | | A/| | Owned at |Indir | |
| | | Amount | D | Price | End of Year |ect(I)| |
___________________________________________________________________________________________________________________________________|
<S> <C> <C> <C> <C> <C> <C> <C> <C>
Common Stock 1 | | | | | |272000 |D | |
- -----------------------------------------------------------------------------------------------------------------------------------|
Common Stock | | | | | |2256 |I |By Deferred Comp Plan |
- -----------------------------------------------------------------------------------------------------------------------------------|
Common Stock | | | | | |80000 |I |By Spouse |
- -----------------------------------------------------------------------------------------------------------------------------------|
___________________________________________________________________________________________________________________________________|
<CAPTION>
___________________________________________________________________________________________________________________________________
Table II -- Derivative Securitites Acquired, Disposed of, or Beneficially Owned |
___________________________________________________________________________________________________________________________________|
1.Title of Derivative |2.Con |3. |4. |5.Number of De |6.Date Exer|7.Title and Amount |8.Price|9.Number |10.|11.Nature of|
Security |version |Transaction rivative Secu |cisable and| of Underlying |of Deri|of Deriva |Dir|Indirect |
|or Exer |Date |Code| rities Acqui |Expiration | Securities |vative |tive |ect|Beneficial |
|cise Pr | | | red(A) or Dis |Date(Month/| |Secu |Securities |(D)|Ownership |
|ice of | | | posed of(D) |Day/Year) | |rity |Benefi |or | |
|Deriva | | | |Date |Expir| | |ficially |Ind| |
|tive | | | | A/|Exer-|ation| Title and Number | |Owned at |ire| |
|Secu | | | | D |cisa-|Date | of Shares | |End of |ct | |
|rity | | | Amount | |ble | | | |Year |(I)| |
___________________________________________________________________________________________________________________________________|
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Nonqualified Stock Optio|$1.258 | | | | |2 |3/2/0|Common Stock| | |480000 |D | |
n | | | | | | |5 | | | | | | |
- -----------------------------------------------------------------------------------------------------------------------------------|
Nonqualified Stock Optio|$2.322 | | | | |3 |8/24/|Common Stock| | |192000 |D | |
ns 1 | | | | | | |05 | | | | | | |
- -----------------------------------------------------------------------------------------------------------------------------------|
Nonqualified Stock Optio|$4.144 | | | | |4 |8/29/|Common Stock| | |203200 |D | |
ns | | | | | | |06 | | | | | | |
- -----------------------------------------------------------------------------------------------------------------------------------|
Nonqualified Stock Optio|$18.52 | | | | |5 |7/18/|Common Stock| | |99444 |D | |
ns | | | | | | |07 | | | | | | |
- -----------------------------------------------------------------------------------------------------------------------------------|
Nonqualified Stock Optio|$57.797 |7/17/|A |11246 |A |6 |7/17/|Common Stock|11246 |N/A | |D | |
ns | | 1998| | | | |08 | | | | | | |
- -----------------------------------------------------------------------------------------------------------------------------------|
Nonqualified Stock Optio|$57.797 |7/17/|A |1802 |A |7 |7/17/|Common Stock|1802 |N/A |13048 |D | |
ns | | 1998| | | | |08 | | | | | | |
- -----------------------------------------------------------------------------------------------------------------------------------|
___________________________________________________________________________________________________________________________________|
</TABLE>
Explanation of Responses:
1. The information contained in this Form 5 has been adjusted to take into
account the two-for-one stock splits paid on March 5 and September 4 of 1998,
but has not been adjusted for the one paid on March 6, 1999.
2. Exercisable in accordance with the following schedule: 96,000 shares on 3/2
of each year from 1996 through 2000.
3. Exercisable in accordance with the following schedule: 38,400 shares on
8/24 of each year from 1996 through 2000.
4. Exercisable in accordance with the following schedule: 40,640 shares on
8/29 of each year from 1997 through 2001.
5. Exercisable in accordance with the following schedule: 19,888 currently
exercisable and 19,889 shares on 7/18 of each year from 1999 through 2002.
6. Exercisable in accordance with the following schedule: 2,249 on 7/17 of
each year from 1999 through 2002 and 2,250 shares on 7/17/03.
7. Exercisable in accordance with the following schedule: 360 shares on 7/17 of
1999, 2000, and 2002 and 361 shares on 7/17 of 2001 and 2003.
